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Important Reminder: File Your Business Property Statement

Assessor Rolf Kleinhans wants to ensure that all business owners in Nevada County are aware that the deadline to file your Business Property Statement with the AssessorÔÇÖs Office is quickly approaching. With less than five weeks left, it is crucial to submit your statement on time to avoid penalties. The statement filing period remains open from January 1 through April 1, with May 7, 2024, being the absolute last day to file without facing a 10% penalty. Business owners have the option to file their Business Property Statements (BOE 571-L) electronically or by utilizing a traditional paper form.

Who Needs to File?

If you have received a notice to file letter from the Assessor, it is mandatory to either electronically submit your statement or complete, sign, and return a paper statement to the Assessor’s Office. Additionally, any business with Personal Property and/or Fixtures valued at $100,000 or more must file a Business Property Statement, even if not specifically requested by the Assessor.

Filing Electronically

Notification letters containing essential information for electronic filing were dispatched in late January. One notable advantage of eFiling is the automatic carry-over of previous year acquisition cost data, saving businesses valuable time and resources. Furthermore, businesses receive confirmation of successful filing, providing peace of mind to the owners.

Filing a Paper Statement

Alternatively, businesses can opt to download a paper Business Property Statement through the e-filing portal if they have received a notice to file letter. It is important to note that all information, including prior year costs, must be manually entered on the form annually. Paper forms should be completed, signed, and either postmarked or hand-delivered to the office by the May 7 deadline to avoid penalties. Paper Business Property Statements are accessible for download via Cal Assessor eForms by searching for ÔÇ£571-LÔÇØ to access a fillable form.

How AI legalese decoder Can Help

AI legalese decoder can streamline the process of understanding and complying with legal jargon related to business property filings. By utilizing this tool, business owners can easily decipher complex legal language found in the Business Property Statement documentation. This can help ensure accurate and timely completion of required forms, reducing the risk of errors or omissions that could lead to penalties. For more information, please visit our Business Property webpage or contact us via email at [email protected] or by phone at 530-265-1259.

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